Buy Duracell next time.
Did you skip math class?
You picked up on that too
lol just noticed it, you are right … brain farted
Daggum…Do you also shoot UFO’s and Bigfoot sightings? That’s one grainy chart, there.
Bearish Divergence spotted … 4 candle rejections on the hourly too…
Not financial advice, I dont know what I just posted
A recovery is possible. This rally is real.
Oh yeah that’s what I like to see.
my gut says bitcoin is gonna dump
You been talking to Sparky.
I miss that guy.
Where did he go?
Sorry bro doesn’t count. RSI doesn’t matter anymore.
Ended up making a few different accounts. One of them he was pretending a 14 year old
I believe we have seen our 5 impulse waves and now currently seeing an ABC correction. Don’t fomo buy please guys
We’ve made a run-up from 3460 all the way to 4420 to test the 10ema in the past 2-3 days while many were calling for more bloodshed; It definitely wouldn’t be wise to buy here for a short-term flip, but on any dip, it might be wise to scale in some for the long-term, especially if we test the ST lows around the mid 3000s again (I would be surprised). Longer term, we might see lower-lows.
depends on the time frame and impulse wave you are looking in.
Made some personal view notes to you chart, I do not think we have hit the first bottom yet, according to previous volume profile which just started to point upwards and weekly RSI bounced off the 30 line perfectly just like it did on the first major dip you have circled and I mark as the “we are here”, first bottom took weekly RSI to oversold of 27.8~ ish.
Another note which I highly think it is not probable is that it could test the previous rally high? omg that would be RIP scenario
Time will tell
Fuckin Elliot, shmelliot. To subjective for my liking.
Every time I see a wave count post I instantly think of
“Pride of opinion has been responsible for the downfall of more men on Wall Street than any other factor.”
- Charles Dow
I agree Manuel, and this is definitely why scaling in your entries is advocated. If you scale in some in the 3k’s, we dip to the high 2k level, you can avg down. Conversely, if we re-test the bottom around mid-3k, you can scale in again, and wait for lower lows. If that was THE bottom (unlikely), at least you got some bids filled and can wait for the next dip to add. Probabilities.
What you don’t want to happen is sell the $3k level thinking we go much lower into the $1-$2ks, and end up selling the bottom and re-buying at higher price levels (even if there is another dip, your mind will have trouble reconciling this PA with zero exposure to the market); this is what many traders/retail will end up doing. It’s very easy to attach a psychological bias to price levels due to trends (we are going lower, so of course we will continue). It’s also why bottoms are characterized by their high volumes - a wash out, or “selling here now because we keep going lower, so I might as well, I will be able to re-buy at a lower level”, which is then matched with = / > buy pressure from bargain buyers, turning into a ‘v’ bottom reversal.
What are people’s thoughts on once we hit the bottom, the turn around might not be as long as the one after 2014. Reason being all the development in the space over this year, and all the bullish news surrounding the space